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Bug bounty programs offer monetary rewards to ethical hackers for successfully discovering and reporting a vulnerability or bug to the application’s developer. Bug bounty programs allow companies to leverage the hacker community to improve their systems’ security posture over time.
A bug bounty program, also known as a vulnerability rewards program (VRP), offers rewards to individuals for uncovering and reporting software bugs. As part of a vulnerability management strategy, these crowdsourcing initiatives are often used by companies to supplement penetration tests and internal code audits.